Raleigh-based Primal Space Raises Another $5M

A Raleigh-based tech company has raised nearly $5 million, according to a Form D filed with the Securities and Exchange Commission on Wednesday.

Primal Space Systems Inc. has raised $4,999,997 of its $5,000,034 goal — all but a mere $37.

It also raised $3 million from investors in August 2015.

The company, which CEO Barry L. Jenkins founded in 2013, developed the “barrier-breaking” Geometry Pump Engine Group technology, which is used to deliver high-quality content at fast rates to consumers, according to its website.

Primal Space Systems hopes its technology can be used to develop a video game-streaming service — like Netflix, but for gaming. The project can be read about on the company’s website here.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file what’s known as a Form D electronically with the SEC after they first sell their securities.